Issue - meetings

Executive Board had considered the attached report.

RECOMMENDED: That Council approve revisions to the Council’s 2015/16 Capital Programme set out in paragraph 3.2.

          Executive Board had considered the attached report of the Operational Director, Finance, which sought approval of a number of revisions to the 2015/16 Capital Programme.

          RESOLVED: That the revisions to the Council’s Capital Programme set out in paragraph 3.2 of the report be approved.

The Board considered a report of the Operational Director, Finance, which summarised the overall revenue and capital spending position as at 30 June 2015.

          In overall terms, revenue expenditure was £0.131m below the budget profile, however, this was only a guide to eventual spending. It was noted that spending on employees was £0.4m below the budget profile at the end of the quarter with the existence of a number of vacant posts and savings in staff turnover.

Members were advised that the Children and Families Department had experienced severe cost pressures in 2014/15 which resulted in a budget overspend for the year. In addition, the Department continued to deal with pressures in other areas such as Special Guardianship, Out of Borough Fostering, Direct Payments and Individual Budgets.

The Capital Programme had been revised to reflect a number of changes in spending profiles as schemes had developed; a list of those schemes that had been revised were set out in the report. With regard to capital spending, it was reported that spending to the 30 June 2015 totalled £4.575m, which was 96% of the planned spending of £4.780m at this stage. However, this represented 9% of the total Capital Programme of £49.234m.

The Council’s Balance Sheet was monitored regularly in accordance with the Reserves and Balances Strategy which formed part of the Medium Term Financial Strategy. The key reserves and balances had been reviewed and were considered prudent and appropriate at this stage in the financial year and within the current financial climate.

RESOLVED: That

1)    all spending continues to be limited to the absolutely essential;

2)    Strategic Directors ensure overall spending at year-end is within their total operational budget; and

3)    Council approve the revised Capital Programme, as set out in Appendix 3 attached to the report.